Keeping hold of great employees is the holy grail for all businesses. Losing a member of staff is not only expensive, it also affects productivity. The average cost of replacing someone earning £25,000 a year or more is reported to be £30,614. If churn becomes too high it can impact on motivation and productivity across the business.
We believe that good employee retention starts with an employer’s recruitment strategy. The key to a committed workforce is finding exactly the right match for each and every role.
We have built our reputation on finding the right employees not just for a particular role, but for the business as a whole. We pride ourselves on building long term relationships with our clients. That means we are as committed to helping them keep their best people, as attracting new ones.
We know that the right employee is one that is committed to a long-term future with an organisation.
That is why our approach to placing candidates is about more than just matching the skills on the job spec with the skills on a person’s CV.
People stay in a role when they feel motivated, fulfilled and valued. When we interview candidates, we spend time getting to the heart of what is important to them.
One of the first questions we ask is why they are looking for a new job. We do that because it helps us find out what makes them tick, what motivates them and just as importantly what de-motivates them. That way we can make sure the role we find them not only meets their needs now, but also in the future.
The assumption is often that people move in search of promotion, better benefits or more money. Of course, a pay rise or improved benefits may help in the short term but they won’t address the real reason someone is feeling de-motivated. Interestingly, the vast majority of our candidates say that they are keen to leave their current role because they are feeling unchallenged, bored or undervalued.
Similarly, we’ve noticed that the clients with the best retention rates are those that recognise that their employees need new challenges to stay motivated and enthusiastic, and so offer the opportunity to move around the business, gaining new skills and experiences. They are also the businesses most likely to attract the best talent, as people recognise their commitment to staff development.
The most switched on employers will make sure that their employees don’t reach the stage of looking for a new job. They are proactive about keeping them motivated and fulfilled. Performance reviews can focus too much on what the business wants from an employee. Asking employees what they want and working with them to plan their career development and progression helps them feel valued and therefore more committed.
There is no one size fits all approach to employee retention, but getting the right person for the job, whose values match those of the business, and whose ambitions for career progression can be supported, will certainly go a long way to helping create a motivated and committed workforce.